Its called a re-rating and that is all that has happened. This stock was priced for perfection seeing as it has delivered 20+% earnings growth every year for as long as I remember. It traded on a P/E of 20x and rightly so, but now with EPS of 40c it is on a P/E of 14. This is a fair P/E for this stock after the announcement and after management has disappointed the market like this. I wouldnt expect this one to bounce. There are a lot of small cap fund managers out there who will be itching to cut their losses. I think it represents fair value. Nice to see the MD sold over 100,000 shares at the end of September, thanks for the heads up...
Its called a re-rating and that is all that has happened. This...
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Last
$15.64 |
Change
0.170(1.10%) |
Mkt cap ! $1.064B | |||
| Open | High | Low | Value | Volume |
| $15.38 | $15.69 | $15.31 | $627.0K | 40.37K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 120 | $15.63 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $15.64 | 40 | 6 |
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| Last trade - 13.46pm 23/08/2024 (20 minute delay) ? |
| CCP (ASX) Chart |